Wells Fargo & Company MN reduced its position in Cimarex Energy Co (NYSE:XEC) by 14.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,458,999 shares of the oil and gas producer’s stock after selling 401,792 shares during the quarter. Wells Fargo & Company MN’s holdings in Cimarex Energy were worth $171,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of XEC. Quantamental Technologies LLC bought a new position in Cimarex Energy in the first quarter worth $31,000. CSat Investment Advisory L.P. lifted its position in Cimarex Energy by 77.7% in the fourth quarter. CSat Investment Advisory L.P. now owns 549 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 240 shares during the period. Huntington National Bank lifted its position in Cimarex Energy by 948.3% in the fourth quarter. Huntington National Bank now owns 629 shares of the oil and gas producer’s stock worth $39,000 after purchasing an additional 569 shares during the period. Bremer Trust National Association bought a new position in Cimarex Energy in the fourth quarter worth $43,000. Finally, Bremer Bank National Association bought a new position in Cimarex Energy in the first quarter worth $48,000. 93.60% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE XEC traded down $1.93 during midday trading on Friday, reaching $57.19. 1,629,270 shares of the company traded hands, compared to its average volume of 1,485,501. The stock has a market cap of $6.00 billion, a PE ratio of 7.73 and a beta of 1.31. Cimarex Energy Co has a 12 month low of $55.62 and a 12 month high of $103.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.59 and a current ratio of 0.66.

Cimarex Energy (NYSE:XEC) last issued its quarterly earnings data on Wednesday, May 8th. The oil and gas producer reported $1.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.17). The company had revenue of $577.00 million for the quarter, compared to the consensus estimate of $581.51 million. Cimarex Energy had a net margin of 26.90% and a return on equity of 19.95%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.82 earnings per share. Analysts predict that Cimarex Energy Co will post 6.46 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. Cimarex Energy’s payout ratio is presently 10.81%.

In related news, Director Harold R. Logan, Jr. sold 990 shares of Cimarex Energy stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $70.00, for a total value of $69,300.00. Following the completion of the transaction, the director now directly owns 7,259 shares of the company’s stock, valued at $508,130. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.

Several brokerages recently commented on XEC. Capital One Financial raised Cimarex Energy from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. Wells Fargo & Co began coverage on Cimarex Energy in a research report on Monday, May 20th. They issued a “market perform” rating and a $86.00 target price for the company. SunTrust Banks raised Cimarex Energy from a “hold” rating to a “buy” rating and raised their target price for the stock from $75.00 to $85.00 in a research report on Monday, May 20th. Morgan Stanley set a $100.00 target price on Cimarex Energy and gave the stock a “buy” rating in a research report on Thursday, May 16th. Finally, Imperial Capital reaffirmed an “outperform” rating and issued a $82.00 target price (down from $84.00) on shares of Cimarex Energy in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company. Cimarex Energy has an average rating of “Buy” and an average target price of $105.83.

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Cimarex Energy Company Profile

Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Oklahoma, Texas, and New Mexico. As of December 31, 2018, it had a total proved reserves of 591.2 million barrels of oil equivalent, consisting of 1.59 trillion cubic feet of natural gas; 146.5 million barrels (MMBbls) of oil; and 179.4 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.

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Institutional Ownership by Quarter for Cimarex Energy (NYSE:XEC)

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